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- The Czechoslovak Group, or CSG, has reaffirmed its commitment to acquire Vista Outdoor’s (NYSE:VSTO) ammunition business, The Kinetic Group, for $1.91B.
- “We look forward to successfully closing the acquisition of The Kinetic Group and becoming the steward of such venerable American brands as Federal, CCI, and Remington,” the company said in a statement on Monday.
- In an effort to secure approval from the Committee on Foreign Investment in the U.S. (CFIUS), CSG gave assurances that the business will remain in the U.S. and maintain a supply to American customers. CSG also reiterated that the company is a “significant” supplier to NATO and Ukraine, and has no ties to Russia, China, or other U.S. adversaries.
- In late March, CSG and Vista Outdoor (VSTO) voluntarily withdrew and re-filed a joint voluntary notice to CFIUS to allow for additional time to conduct diligence on the proposed acquisition. The acquisition has already received approval from the U.S. Federal Trade Commission.